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CHARLOTTE, NC - APRIL 28: Charlotte Bobcats owner Michael Jordan watches on against the Miami Heat in Game Four of the Eastern Conference Quarterfinals during the 2014 NBA Playoffs at Time Warner Cable Arena on April 28, 2014 in Charlotte, North Carolina. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Streeter Lecka/Getty Images)

Per the Charlotte Observer and Yahoo Sports, Michael Jordan agreed to sell a “large piece” of the Charlotte Hornets to a pair of New York-based investors.

Jordan, who will retain majority control of the team, is selling parts of the team to Melvin Capital founder Gabe Plotkin and DI Capital founder Daniel Sundheim.

The two still need to be approved by the NBA before the sale can go through, yet thos is expected to be made official in the coming weeks. It’s not yet clear how much of the team Jordan is selling.